Richard W. Paul & Associates, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Richard W. Paul & Associates, LLC reported 335 stock positions worth $255.0 million. Its top holding was iShares Core S&P U.S. Value (IUSV) at 5.8% of the portfolio, followed by iShares Core S&P U.S. Growth (IUSG, 5.0%) and iShares Core S&P Small-Cap E (IJR, 4.8%). Compared with Q4 2024, it opened 10 new positions, sold out of 186, added to 80 and reduced 184. The biggest buy was Invesco S&P 500 Equal Weight (RSP, shares +385%) and the biggest sale Vaneck Fallen Angel High YLD (ANGL, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- NOVI, MI
- CIK
- 0001964203
- Portfolio Value
- $255.0M (Q1 2025)
- SEC Filing
- 0001964203-25-000002 ↗ filed May 12, 2025
Holdings Value
Holdings 335 stocks · $255.0M
| IUSV iShares Core S&P U.S. Value | 5.84% | 161,211 | $14.9M | Reduce -0.1% |
| IUSG iShares Core S&P U.S. Growth | 5.00% | 100,282 | $12.7M | Reduce -3.2% |
| IJR iShares Core S&P Small-Cap E | 4.75% | 115,819 | $12.1M | Add +0.9% |
| AGG iShares Core U.S. Aggregate | 4.67% | 120,280 | $11.9M | Add +5.4% |
| TLT iShares 20+ Year Treasury BD | 4.11% | 115,052 | $10.5M | Add +1.8% |
| JPIE JPMorgan Income ETF | 3.54% | 195,818 | $9.0M | Add +0.2% |
| IEFA iShares Core MSCI Eafe ETF | 3.35% | 112,953 | $8.5M | Add +1.9% |
| RSP Invesco S&P 500 Equal Weight | 3.00% | 44,128 | $7.6M | Add +384.8% |
| QQQ Invesco QQQ Trust Series 1 | 2.93% | 15,931 | $7.5M | Reduce -8.6% |
| PYLD PIMCO Multisector Bond Actv | 2.16% | 208,780 | $5.5M | New |
| EFA iShares MSCI Eafe ETF | 2.07% | 64,567 | $5.3M | Add +2.9% |
| IEMG iShares Core MSCI Emerging | 1.81% | 85,646 | $4.6M | Add +0.5% |
| AAPL Apple Inc. | 1.57% | 18,026 | $4.0M | Reduce -21.3% |
| IVV iShares Core S&P 500 ETF | 1.48% | 6,726 | $3.8M | Add +1.4% |
| MSFT Microsoft Corp. | 1.37% | 9,301 | $3.5M | Reduce -4.6% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.32% | 73,110 | $3.4M | Add +6.2% |
| MCHI iShares MSCI China ETF | 1.26% | 59,108 | $3.2M | Reduce -13.1% |
| SCZ iShares MSCI Eafe Small-Cap | 1.11% | 44,383 | $2.8M | Add +0.9% |
| EEM iShares MSCI Emerging Market | 1.08% | 62,798 | $2.7M | Add +4.0% |
| IJH iShares Core S&P Midcap ETF | 1.04% | 45,398 | $2.6M | Add +4781.5% |
| NVDA Nvidia Corp. | 0.96% | 22,659 | $2.5M | Add +2.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.93% | 25,833 | $2.4M | Reduce -12.2% |
| IAGG iShares Intl Aggregate Bond | 0.85% | 43,359 | $2.2M | Add +9.8% |
| JEPI JPMorgan Equity Premium Inco | 0.80% | 35,808 | $2.0M | Add +3.6% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.80% | 42,060 | $2.0M | Add +6.6% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.76% | 37,396 | $1.9M | Add +3.4% |
| META Meta Platforms Inc. Class A | 0.76% | 3,347 | $1.9M | Reduce -7.8% |
| DSTL Distillate US Fundamental St | 0.74% | 34,780 | $1.9M | Add +3.4% |
| BABA Alibaba Group Holding-SP ADR | 0.71% | 13,677 | $1.8M | Reduce -7.2% |
| NFLX Netflix Inc. | 0.69% | 1,893 | $1.8M | Reduce -3.4% |
| AMZN Amazon.com Inc. | 0.67% | 8,974 | $1.7M | Reduce -18.4% |
| JPM JPMorgan Chase & Co. | 0.65% | 6,786 | $1.7M | Reduce -3.0% |
| ABBV Abbvie Inc. | 0.62% | 7,574 | $1.6M | Reduce -2.3% |
| PM Philip Morris International | 0.62% | 9,937 | $1.6M | Reduce -4.1% |
| COIN Coinbase Global Inc. Class A | 0.60% | 8,869 | $1.5M | Reduce -3.0% |
| XLRE SS Real Estate Select Sector | 0.60% | 36,395 | $1.5M | Add +3.8% |
| QQEW First TR Nasdaq-100 Sel Eq | 0.57% | 11,937 | $1.4M | Reduce -4.9% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.54% | 21,102 | $1.4M | Reduce -3.2% |
| PYPL PayPal Holdings Inc. | 0.54% | 21,254 | $1.4M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.53% | 1,420 | $1.3M | Reduce -8.7% |
| VZ Verizon Communications Inc. | 0.51% | 28,914 | $1.3M | Reduce -4.8% |
| XLV SS Health Care Select Sector | 0.50% | 8,778 | $1.3M | Reduce -55.6% |
| AVGO Broadcom Inc. | 0.49% | 7,417 | $1.2M | Reduce -21.3% |
| BOND PIMCO Active Bond Exchange-T | 0.48% | 13,370 | $1.2M | New |
| ZTS Zoetis Inc. | 0.48% | 7,491 | $1.2M | Add +5.4% |
| GOOG Alphabet Inc. Class C | 0.47% | 7,732 | $1.2M | Reduce -27.9% |
| T AT&T Inc. | 0.47% | 41,953 | $1.2M | Reduce -3.1% |
| HD Home Depot Inc. | 0.46% | 3,186 | $1.2M | Reduce -0.1% |
| UNH Unitedhealth Group Inc. | 0.45% | 2,211 | $1.2M | Reduce -0.3% |
| ROKU Roku Inc. | 0.45% | 16,182 | $1.1M | Add +1.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.43% | 13,920 | $1.1M | Add +21.8% |
| CVS CVS Health Corp. | 0.43% | 16,092 | $1.1M | Reduce -2.6% |
| ULTA Ulta Beauty Inc. | 0.43% | 2,966 | $1.1M | Add +3.9% |
| ORCL Oracle Corp. | 0.43% | 7,771 | $1.1M | Reduce -3.9% |
| MO Altria Group Inc. | 0.42% | 17,905 | $1.1M | Reduce -0.6% |
| IWM iShares Russell 2000 ETF | 0.42% | 5,375 | $1.1M | Reduce -8.0% |
| JNJ Johnson & Johnson | 0.40% | 6,195 | $1.0M | Reduce -5.7% |
| CMG Chipotle Mexican Grill Inc. | 0.40% | 20,162 | $1.0M | Add +3.6% |
| CIBR First Trust Nasdaq Cybersecu | 0.39% | 15,964 | $1.0M | Reduce -8.4% |
| CSCO Cisco Systems Inc. | 0.39% | 16,249 | $1.0M | Reduce -2.6% |
| XLK SS Technology Select Sector | 0.38% | 4,748 | $980K | Reduce -54.5% |
| MA Mastercard Inc. Class A | 0.38% | 1,785 | $979K | Reduce -20.5% |
| JAAA Janus Henderson Aaa Clo ETF | 0.38% | 19,263 | $977K | New |
| SBUX Starbucks Corp. | 0.38% | 9,925 | $974K | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.38% | 1,164 | $961K | Add +0.1% |
| LULU Lululemon Athletica Inc. | 0.36% | 3,288 | $931K | Reduce -1.3% |
| XLP SS Consumer Staples Sel Sect | 0.36% | 11,264 | $920K | Reduce -68.1% |
| PG The Procter & Gamble Co. | 0.35% | 5,312 | $905K | Reduce -13.7% |
| MU Micron Technology Inc. | 0.35% | 10,283 | $894K | Reduce -0.8% |
| FETH Fidelity Ethereum Fund | 0.35% | 48,293 | $881K | Reduce -6.1% |
| WMT Walmart Inc. | 0.34% | 10,019 | $880K | Reduce -16.7% |
| AMD Advanced Micro Devices | 0.34% | 8,387 | $862K | Add +2.6% |
| IBB iShares Biotechnology ETF | 0.34% | 6,729 | $861K | Reduce -0.9% |
| INTU Intuit Inc. | 0.33% | 1,391 | $854K | Add +3.3% |
| FSLR First Solar Inc. | 0.33% | 6,745 | $853K | Add +61218.2% |
| DHR Danaher Corp. | 0.33% | 4,110 | $843K | Add +5.5% |
| VEA Vanguard Ftse Developed ETF | 0.32% | 16,129 | $820K | Reduce -4.1% |
| PFE Pfizer Inc. | 0.32% | 32,354 | $820K | Add +0.2% |
| QQQM Invesco Nasdaq 100 ETF | 0.32% | 4,211 | $813K | Reduce -5.6% |
| KO The Coca-Cola Co. | 0.32% | 11,321 | $811K | Reduce -9.0% |
| QCOM Qualcomm Inc. | 0.32% | 5,258 | $808K | Add +0.7% |
| STX Seagate Technology Holdings | 0.31% | 9,345 | $794K | Add +0.9% |
| UPS United Parcel Service Class B | 0.30% | 6,985 | $768K | Reduce -4.7% |
| MRK Merck & Co. Inc. | 0.30% | 8,540 | $767K | Reduce -24.3% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.30% | 13,895 | $765K | Reduce -3.8% |
| GOOGL Alphabet Inc. Class A | 0.30% | 4,870 | $753K | Reduce -35.4% |
| VIG Vanguard Dividend Apprec ETF | 0.29% | 3,818 | $741K | Reduce -14.1% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.29% | 20,233 | $737K | Add +39.2% |
| SPGI S&P Global Inc. | 0.28% | 1,415 | $719K | Add +2.5% |
| MMM 3M Co. | 0.28% | 4,818 | $708K | Reduce -29.6% |
| ISRG Intuitive Surgical Inc. | 0.28% | 1,424 | $705K | Add +0.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.28% | 4,079 | $705K | Reduce -6.3% |
| BMY Bristol-Myers Squibb Co. | 0.27% | 11,444 | $698K | Reduce -1.1% |
| PEP Pepsico Inc. | 0.27% | 4,570 | $685K | Reduce -5.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.27% | 1,847 | $685K | Reduce -10.8% |
| SHW The Sherwin-Williams Co. | 0.25% | 1,855 | $648K | Reduce -17.6% |
| XLSR SS US Sector Rotation | 0.25% | 12,737 | $647K | Add +2.3% |
| VRT Vertiv Holdings Co. Class A | 0.25% | 8,725 | $630K | Add +77.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.24% | 14,435 | $602K | Add +0.0% |
| SPEM State Street SP PTF Em ETF | 0.23% | 15,079 | $594K | Reduce -2.9% |
Lines left out (2) · $7 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| BILZ PIMCO Ultra SHRT Govt Active | ULTR SH GO AC FD | 0 | $6 |
| BUZZ Vaneck Social Sentiment ETF | SOCIAL SENTIMENT | 0 | $1 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $255.0M.
Portfolio Sells Q4 2024 → Q1 2025
| ANGL Vaneck Fallen Angel High YLD | Reduce -99.3% | 0.01% | −0.94 |
| ETHE Grayscale Ethereum Staking E | Reduce -82.8% | 0.08% | −0.72 |
| VOLATILITY SHS TR | Sold out | 0.00% | −0.69 |
| XLY SS Consumer Disc Select Sect | Reduce -74.1% | 0.22% | −0.67 |
| XLP SS Consumer Staples Sel Sect | Reduce -68.1% | 0.36% | −0.65 |
| AAPL Apple Inc. | Reduce -21.3% | 1.57% | −0.52 |
| TSLA Tesla Inc. | Reduce -99.8% | 0.00% | −0.50 |
| XLK SS Technology Select Sector | Reduce -54.5% | 0.38% | −0.50 |
| XLV SS Health Care Select Sector | Reduce -55.6% | 0.50% | −0.49 |
| LMBS First Trust Low Duration Opp | Sold out | 0.00% | −0.48 |
| XLI SS Industrial Select Sector | Reduce -72.2% | 0.18% | −0.44 |
| BYLD iShares Yield Optimized Bond | Sold out | 0.00% | −0.39 |
| ADBE Adobe Inc. | Reduce -75.5% | 0.10% | −0.35 |
| ICVT iShares Convertible Bond ETF | Reduce -99.8% | 0.00% | −0.32 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -8.6% | 2.93% | −0.32 |
| AVGO Broadcom Inc. | Reduce -21.3% | 0.49% | −0.31 |
| FETH Fidelity Ethereum Fund | Reduce -6.1% | 0.35% | −0.28 |
| GOOG Alphabet Inc. Class C | Reduce -27.9% | 0.47% | −0.27 |
| IUSG iShares Core S&P U.S. Growth | Reduce -3.2% | 5.00% | −0.26 |
| COIN Coinbase Global Inc. Class A | Reduce -3.0% | 0.60% | −0.23 |
| GOOGL Alphabet Inc. Class A | Reduce -35.4% | 0.30% | −0.22 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −0.22 |
| ALGN Align Technology Inc. | Reduce -99.3% | 0.00% | −0.22 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -49.5% | 0.23% | −0.21 |
| AMZN Amazon.com Inc. | Reduce -18.4% | 0.67% | −0.21 |
| XLF SS Financial Select Sector | Reduce -56.3% | 0.17% | −0.18 |
| XLC SS Comm Select Sector SPDR | Reduce -49.2% | 0.19% | −0.16 |
| MAR Marriott International Class A | Reduce -99.4% | 0.00% | −0.14 |
| CAT Caterpillar Inc. | Reduce -99.4% | 0.00% | −0.14 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -98.9% | 0.00% | −0.13 |
| MSFT Microsoft Corp. | Reduce -4.6% | 1.37% | −0.13 |
| DELL Dell Technologies -C | Reduce -37.3% | 0.14% | −0.12 |
| MPC Marathon Petroleum Corp. | Reduce -99.5% | 0.00% | −0.11 |
| MRK Merck & Co. Inc. | Reduce -24.3% | 0.30% | −0.11 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Sold out | 0.00% | −0.11 |
| LULU Lululemon Athletica Inc. | Reduce -1.3% | 0.36% | −0.10 |
| DTE DTE Energy Company | Sold out | 0.00% | −0.10 |
| MDLZ Mondelez International Inc. Class A | Reduce -99.7% | 0.00% | −0.09 |
| NEE Nextera Energy Inc. | Reduce -30.6% | 0.21% | −0.08 |
| IBKR Interactive Brokers Gro Class A | Reduce -33.2% | 0.16% | −0.08 |
| PAAS Pan American Silver Corp. | Sold out | 0.00% | −0.07 |
| ORCL Oracle Corp. | Reduce -3.9% | 0.43% | −0.07 |
| MTD Mettler-Toledo International | Sold out | 0.00% | −0.06 |
| DTM DT Midstream Inc. | Sold out | 0.00% | −0.06 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -12.2% | 0.93% | −0.05 |
| PH Parker Hannifin Corp. | Reduce -27.4% | 0.15% | −0.05 |
| WMT Walmart Inc. | Reduce -16.7% | 0.34% | −0.05 |
| IWM iShares Russell 2000 ETF | Reduce -8.0% | 0.42% | −0.05 |
| ETHA iShares Ethereum Trust ETF | Reduce -57.6% | 0.02% | −0.05 |
| MA Mastercard Inc. Class A | Reduce -20.5% | 0.38% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| RSP Invesco S&P 500 Equal Weight | Add +384.8% | 3.00% | +2.42 |
| PYLD PIMCO Multisector Bond Actv | New | 2.16% | +2.16 |
| IJH iShares Core S&P Midcap ETF | Add +4781.5% | 1.04% | +1.02 |
| AGG iShares Core U.S. Aggregate | Add +5.4% | 4.67% | +0.64 |
| IEFA iShares Core MSCI Eafe ETF | Add +1.9% | 3.35% | +0.51 |
| TLT iShares 20+ Year Treasury BD | Add +1.8% | 4.11% | +0.51 |
| BOND PIMCO Active Bond Exchange-T | New | 0.48% | +0.48 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.38% | +0.38 |
| EFA iShares MSCI Eafe ETF | Add +2.9% | 2.07% | +0.34 |
| FSLR First Solar Inc. | Add +61218.2% | 0.33% | +0.33 |
| JPIE JPMorgan Income ETF | Add +0.2% | 3.54% | +0.29 |
| ASML ASML Holding NV-NY Reg SHS | Add +14650.0% | 0.23% | +0.23 |
| IEMG iShares Core MSCI Emerging | Add +0.5% | 1.81% | +0.19 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +6.2% | 1.32% | +0.19 |
| EEM iShares MSCI Emerging Market | Add +4.0% | 1.08% | +0.16 |
| SCZ iShares MSCI Eafe Small-Cap | Add +0.9% | 1.11% | +0.13 |
| IAGG iShares Intl Aggregate Bond | Add +9.8% | 0.85% | +0.13 |
| KDP Keurig Dr Pepper Inc. | New | 0.12% | +0.12 |
| PPL PPL Corp. | Add +2522.8% | 0.12% | +0.11 |
| ISTB iShares Core 1-5 Year Usd Bo | Add +6.6% | 0.80% | +0.11 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +39.2% | 0.29% | +0.11 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +21.8% | 0.43% | +0.10 |
| LHX L3HARRIS Technologies Inc. | Add +276.3% | 0.13% | +0.09 |
| LRCX Lam Research Corp. | New | 0.09% | +0.09 |
| RCL Royal Caribbean Cruises Ltd. | Add +172.6% | 0.13% | +0.08 |
| IQV Iqvia Holdings Inc. | Add +15025.0% | 0.08% | +0.08 |
| JEPI JPMorgan Equity Premium Inco | Add +3.6% | 0.80% | +0.08 |
| XLRE SS Real Estate Select Sector | Add +3.8% | 0.60% | +0.08 |
| DSTL Distillate US Fundamental St | Add +3.4% | 0.74% | +0.07 |
| ZTS Zoetis Inc. | Add +5.4% | 0.48% | +0.06 |
| FANG Diamondback Energy Inc. | Add +86.5% | 0.13% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +1.4% | 1.48% | +0.06 |
| SPLB SS SPDR P Long Term C ETF | Add +3751.9% | 0.05% | +0.05 |
| AMT American Tower Corp. | Add +2.9% | 0.21% | +0.05 |
| LLY Eli Lilly & Co. | Add +0.1% | 0.38% | +0.05 |
| VRT Vertiv Holdings Co. Class A | Add +77.5% | 0.25% | +0.04 |
| SPEU State Street SPDR Portfolio | Add +6112.2% | 0.04% | +0.04 |
| SLB SLB Ltd. | New | 0.04% | +0.04 |
| CERY SS SPDR BBG En RY CM St N-Ui | Add +109.4% | 0.07% | +0.04 |
| QSR Restaurant Brands Intern | Add +28.7% | 0.13% | +0.04 |
| TJX TJX Companies Inc. | Add +22.7% | 0.13% | +0.03 |
| DIS The Walt Disney Co. | Add +67.8% | 0.08% | +0.03 |
| SPGI S&P Global Inc. | Add +2.5% | 0.28% | +0.03 |
| FISR SS Fi Sector Rotation | Add +141.7% | 0.05% | +0.03 |
| DPZ Domino's Pizza Inc. | Add +0.6% | 0.17% | +0.03 |
| INTU Intuit Inc. | Add +3.3% | 0.33% | +0.03 |
| QCOM Qualcomm Inc. | Add +0.7% | 0.32% | +0.02 |
| PLD Prologis Inc. | Add +0.5% | 0.18% | +0.02 |
| D Dominion Energy Inc. | Add +0.4% | 0.19% | +0.02 |
| STX Seagate Technology Holdings | Add +0.9% | 0.31% | +0.02 |
Notes & Other Activity Q4 2024 → Q1 2025
| BILZ PIMCO Ultra SHRT Govt Active | ULTR SH GO AC FD | Reduce -100.0% | 0 | $6 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 319 | $327.0M | IUSV, IUSG, TLT, JPIE, IEFA |
| Q1 2026 | 299 | $297.1M | IUSV, IUSG, TLT, JPIE, IEFA |
| Q4 2025 | 293 | $301.2M | IUSV, IUSG, AGG, IJR, TLT |
| Q3 2025 | 315 | $292.9M | IUSV, IUSG, IJR, AGG, TLT |
| Q2 2025 | 336 | $276.6M | IUSV, IUSG, AGG, IJR, TLT |
| Q1 2025 | 335 | $255.0M | IUSV, IUSG, IJR, AGG, TLT |
| Q4 2024 | 512 | $274.5M | IUSV, IUSG, IJR, AGG, TLT |
| Q3 2024 | 504 | $278.4M | IUSV, IUSG, IJR, AGG, TLT |
| Q2 2024 | 495 | $259.1M | IUSG, IUSV, IJR, AGG, TLT |
| Q1 2024 | 511 | $250.5M | IUSV, IUSG, IJR, AGG, TLT |